Crypto.com quickly broke into the top ten cryptocurrencies
The coin received support from fundamental factors
The project’s product line allows users of the startup not to leave its ecosystem
International consortium of news organizations developing transparency standards.
A high level of capitalization is one of the indicators of success in the digital asset market. It also reflects the demand for the coin among users..
Bitcoin, as the very first cryptocurrency, has been the leader in capitalization for a long time. His environment rarely changes, and at the moments when this happens, a new project attracts the attention of members of the crypto community.
On June 15, a newcomer appeared in the top 10 most capitalized cryptocurrencies – Crypto.com Coin (CRO). After breaking into the ranks of the leaders, the coin managed to get out of the top ten, then again burst into it to the 9th place. As of July 8, 2020, the cryptocurrency has been on the 10th line for several days. We invite you to learn more about the newbie, his features and prospects..
Crypto.com Coin is a cryptocurrency of Crypto.com startup founded in 2016, the developers of which offer market participants technical solutions for buying and selling crypto assets, as well as calculating with coins in everyday life. With the help of CRO, project participants can conduct transactions with digital assets.
In addition to Crypto.com Coin, the startup has another token As the use of cryptocurrencies grows, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More – MCO. It was he who participated in the startup token sale in 2017, during which the project raised $ 26.7 million. MCO is involved in solving a number of technical problems. For example, cryptocurrency holders get some privileges and discounts.
The goal of the project is to accelerate the transition of users from fiat to a new financial instrument. For this, the developers have created a number of products.
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Available for Android and IOS devices. The program supports work with BTC, ETH, CRO, MCO, LTC, XRP, XLM and other ERC-20 tokens. According to the startup’s website, each wallet owner acts as a custodian of their cryptocurrencies. All private keys are under user control.
The developers are positioning the site as a place where you can buy cryptocurrencies at a fair price. Available for Android and IOS. In the application, you can work with 7 fiat currencies and 55 cryptocurrencies. With its help, users can manage accounts and make transactions with available assets. In this case, the custodian of coins is Crypto.com.
The application also has functionality for tracking price changes of assets of interest (digital and fiat). There is no commission for exchanging cryptocurrency for other digital coins, making a deposit and transferring assets to the wallet. The application can be connected to the startup’s cryptocurrency wallet.
Metal and plastic cards Visa MCO
With their help, users can spend cryptocurrencies from the Crypto.com wallet. In order to pay for purchases in digital assets using a card, its developers proposed converting coins to fiat. This can be done in the company’s mobile application.
Visa MCO allows you to receive up to 5% cashback. In total, Crypto.com has developed five types of cards. Each has its own incentive program and limits.
Digital asset exchange
Project representatives position a high level of liquidity and low commissions as the main advantages of the trading platform.
At Crypto.com, you can earn up to 12% per annum for keeping digital assets on deposit. For cryptocurrencies, the maximum rate is set at 8%, for stablecoins – 12%. Payments are made weekly. For the calculation, the startup uses the same asset in which the deposit was opened.
Cryptocurrencies and stablecoins that participate in the Crypto.com earnings program
To increase income, Crypto.com developers offer to participate in the staking of the project’s technical tokens – MCO.
In order to get a loan, you need to download the Crypto.com application and make a deposit in cryptocurrency. The minimum deposit in coins is $ 500. At the same time, the available loan amount is always two times lower than the deposit. For example, if the account has $ 10 thousand, then the maximum loan will be $ 5 thousand.
You can replenish your account in several cryptocurrencies: MCO, CRO, BTC, ETH, XRP, LTC, XLM and EOS. Loans at Crypto.com are issued in PAX / TUSD / USDC / USDT. For MCO holders, the program has a reduced annual interest rate on the loan.
As part of the initiative, the Crypto.com developers offered businesses technical solutions that allow them to accept payments in cryptocurrencies. You can try the service on the Crypto.com website, in the startup store.
Crypto.com payment service interface
To make a payment, users are offered to scan a QR code, in which the details are sewn.
How the project’s cryptocurrency ended up in the top 10 capitalization rating
CoinMarketCap, a popular digital asset data aggregator, can be used to track the growth of CRO capitalization. The chart shows how the positive movement helped the coin break into the top 10 leaders.
The share of the most capitalized cryptocurrencies in the market. Data: CoinMarketCap
The first burst of growth in the value of CRO was recorded in early March 2019. On the 5th, a positive movement began, which ended with the achievement of a local maximum value by the cryptocurrency rate. The rise was followed by an extended period of decline.
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A new wave of positive movement was recorded in early 2020. After a slight pullback, the cryptocurrency rate and its trading volumes continued to grow. At the time of this writing (July 8, 2020), the coin’s price has reached another high at $ 0.140399.
CRO course. Data: CoinMarketCap
Events that positively influenced the movement of the cryptocurrency rate can be presented in the following sequence:
- June 25, 2019. Launch of the MCO Visa cryptocurrency card.
- July 16, 2019. Conclusion of partnership agreements with OS Limited (OSL), Paxos & TrustToken.
- July 22, 2019. Launch of a service for replenishing fiat cards for US citizens.
- 23 August 2019 Users can now withdraw fiat from the company’s wallet through TUSD and PAX.
- September 17, 2019. Crypto.com blockchain testnet launch. Thaler.
- September 19, 2019. The number of users of technical solutions of the project has reached 1 million.
- September 26, 2019. Expanding access to payment service for 500 thousand users of the WooCommerce e-commerce plugin.
- October 22, 2019. Partnership with Huobi Pool, under which the parties organized a CRO staking program.
- October 25, 2019. Launch of the MCO card program in Europe.
- November 5, 2019. Crypto.com users have access to withdraw EUR to their bank accounts.
- December 4, 2019. The launch of the beta version of the exchange.
- January 21, 2020. Beginning of verification of European users before issuing cards.
- February 4, 2020. Reduced fees for the withdrawal of cryptocurrencies.
- February 27, 2020. The startup has partnered with Travala.com, a lodging booking service (Binance partner). As a result, Crypto.com users got access to payment for 40% of the platform’s options for living in 230 countries..
- March 10, 2020. US MCO Visa holders have access to mobile payments via Apple / Google / Samsung Pay.
- March 16, 2020. MCO Visa cards begin shipping to UK.
- March 23, 2020. The startup has entered into agreements with the fintech platform Oveit for the organization of cryptocurrency offline payments.
- April 15, 2020. Conclusion of partnership agreements with the TV-TWO fintech platform to expand the opportunities for training users to work with cryptocurrencies.
- May 11, 2020. Startup’s technical solutions for paying for purchases with cryptocurrencies became available to 1 million users of the Ecwid app in 75 countries.
- May 15, 2020. Start of MCO Visa delivery to European users.
- May 20, 2020. Startup Crypto Wallet Presentation.
- May 21, 2020. Crypto.com Representatives Receive Approval To Launch Card Program In Canada.
- June 2, 2020. The startup was the first among crypto companies to receive ISO / IEC 27701: 2019 security certification.
- June 4, 2020. Former Visa and Coinbase Top Manager Antonio Alvarez Appointed Crypto.com Compliance Director.
- June 18, 2020. The startup became a member of the Open Payments Coalition alliance. It also includes BitGo, BitPay, Bitrue, Bitso, Bitstamp, Blockchain.com, BTC Markets, CipherTrace, Coinone, Independent Reserve and Liquid.
- June 29, 2020. Launch of Crypto.com UK Pound Fiat Funding Service with Zero Fees.
For more information on the startup’s updates, see his blog..
Crypto.com developers have been actively working on the project for a long period of time. The result of the efforts of the representatives of the startup was a place in the top 10 most capitalized cryptocurrencies. To other conclusions:
- Crypto.com is a product ecosystem that operates two cryptocurrencies. Each of the coins has its own purpose..
- A variety of technical solutions and services allows Crypto.com to popularize digital assets in the fiat world.
- Crypto.com features a line of products that keeps startup users from leaving the ecosystem. For example, a client of a company can make a crypto-fiat exchange, pay in a convenient format and make shopping based on the development of the project.
The work of the creators of the project on its promotion and the availability of working tools suggests that the active growth of the Crypto.com cryptocurrency in the capitalization rating, unlike the 999 coin, is not related to the fraudulent “pump and dump” scheme.
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